FSDH Asset Management

business goal

Improve the experience of their existing solution to further stand out from competitors, thereby reducing the bottlenecks for new customers to access them.

overview

FSDH Asset Management, a prominent asset management bank based in Lagos, Nigeria, sought to revolutionize their services to further make them stand out in a crowded market of several financial investment solutions.
FSDH Asset Management had chosen to design a digital dashboard and they kicked that off first with their mobile app and now a web dashboard that compliments their new mobile app.

project ROLE

In my role on this project, I played a crucial part in not just designing a solution but solving problems before they became one alongside another designer; Deborah Bashorun.

.... from financial savings apps to bank mobile apps, cryptocurrency exchange platforms, loan apps, micro-credit platforms, and several others, the investment ecosystem has witnessed a huge shift with the rise of digital platforms.

Study shows that the digital investment market in Nigeria is projected to grow by 17.6%, resulting in a projected total amount of US$7bn by 2027.

Competitive Analysis

To gain information on what we were up against, I looked into other competitors in the financial investments to see what we could improve upon as we try to improve the existing experience.

User Persona‍

Using the information from the existing user base we were to narrow down the users we have and the user we want to appeal to into two major groups:

Affluent customers

These are individuals who possess a considerable amount of wealth and financial resources but may not necessarily be categorised as high-net-worth individuals or ultra-high-net-worth individuals.

High Net Worth Individuals

They are also known as wealthy individuals, are a select group of people who possess substantial financial assets and investments. They are typically classified as having a net worth above a certain threshold, often in the millions of Naira.

User Interviews

To properly understand what “improving the experience of their solution meant for the user. I spoke to about 4 people that fits the persona and found the following as overarching problems:

Competitor comparison

Users might compare with existing solutions so they already have expectations of the kinds of services we should have at a re-launch

Trust and security

Users might be worried as the number of financial platforms had increased in the last few years and knowing who to trust was important.

Confusion on the assets

Users might not understand what they were investing in and this might hinder the level of trust they have.

Savings culture

People were used to saving in USD also despite the local currency being NGN. This is to cushion the effect of the devaluation of naira.

Main Customer Problems

Choosing a platform that could be trusted

With the multitude of platforms for financial investments, how do we stand out putting ease of use at the forefront to gaining trust.

Leakage of customer due to insufficient information

Because the financial assets of FSDHAM was not the usual common ones like stocks meant we need to educate people to gain their trust.

Design Challenge

How can I create a solution that people understood what they were doing while making the experience seamless

Design Strategy

Easy access

Our design strategy focused on providing users with multiple touchpoints, including a website, web app, and mobile app, to maximize accessibility.

Easy to use solution

We aimed to simplify complex financial processes and terms and make them easily comprehensible to our users.

User flow diagram

Visualizing the Journey for a smooth account creation and onboarding process

The user flow showing the login and onboarding process of the product

How do we gain trust by educating our users?

1.
Allowing users to create their accounts using their BVN (Bank identity number) as an authenticator of their identity.

2.
Creating a resources center that allows users to be informed of the trends of an asset.

High-Fidelity Exploration

I created high-fidelity prototypes of pages showcasing various integration points, ensuring a seamless user experience throughout the platform.

Some of the screens designed

Delivery

The product was not developed during my contract length however we were able to improve on what was originally designed from a little usability session done with the prototype that was designed.

During the onboarding flow when we asked users what assets they would like to invest in, this made the flow longer and most users did not know what the assets were.

We were able to improve the section by adding a learn more button that opened a popup allowing users to read about the particular asset and a link to read more.

We also added a skip button at the button of the page so they could get in first before worring about this part when signing up.

Few of the tasks completed during the session

Sign up for an account
Can you find more information about the FSDH Dollar Fund when logged in?
What frustrated you when you were doing the task

Some important questions which were asked after test session

Do you understand what the assets were?
How confident do you feel in the security measures taken to protect your financial information on this dashboard?
Did you find the information presented on the dashboard clear and relevant to your investment needs?
Were there any specific features or elements that confused you or were difficult to use?